Which Are the Best Bookmakers in Iceland?
Many international betting sites accept punters from Iceland. We have been able to choose three of the best bookies available to players in this country, and these have been reviewed below.
- Population: 366,425 (2020)
- Active players: At least 7,000 people gamble regularly
- Currency: Icelandic Krona
- Regulated gambling products: Icelandic laws support the lottery, slot machines, and pool-based sports lotteries. Online gambling is not exactly legal in Iceland, but players are not restricted from signing up on international casinos.
- Operator types: Online casinos and sports betting
- Designated authority: None
- Status: Although online betting is not regulated by Icelandic authorities, the government doesn’t do anything to prevent punters from betting in online casinos. A 2016 EU ruling by the Court of Justice allowed residents of the region to punt on international sites without being prosecuted.
Top Rated Bookmakers in Iceland
Fortune Jack is among the best betting sites in Iceland. The top sports leagues covered in this betting platform are the Champions League, Premier League, and La Liga. Aside from football, Fortune Jack offers wagers on basketball, baseball, MMA, American football, ice hockey, and cricket, among other sports. The bookie also features various e-sports, and these include Dota 2, League of Legends, and Rainbow Six.
The default odds format on this betting site is decimal, but this can be changed to American or fractional using the menu on the upper right corner. It is worth noting that Fortune Jack is a crypto sportsbook, so you will be able to make deposits using Bitcoin.
- It accepts cryptocurrencies, so you can use Bitcoin to gamble.
- It offers bets on various e-sports.
- It has a gambling license from the Curacao government.
- Punters cannot make deposits using the mobile version of Fortune Jack.
If live-streaming is your biggest consideration when choosing a betting site, then Unibet will easily qualify to be one of the best Iceland bookmakers. With the live streaming feature, punters from Iceland will be able to determine how good the players are, and this information will help them place in-play wagers. On this site, you can make deposits using options that are easily accessible in Iceland, and they include Mastercard, Visa, PayPal, and Skrill. Unibet offers some of the fastest withdrawals, but the exact period will be determined by the banking option you select. Unibet is known for having some of the highest odds, and you can even access Iceland betting tips on the platform.
- It has a cash-out feature.
- It offers live streams of different matches.
- It allows players to view essential statistics on various matches.
- Bonuses on the site have tough conditions.
Bet365 is one of the biggest sports betting brands in the world, and it is also extremely popular in Iceland. The site has attracted punters with its high odds and extensive in-play betting options. Bet365 also has a live streaming option, and this is offered on more than ten sports on the site. In order to access the live streams at Bet365, you must have a positive balance in your betting account. Another excellent feature of this bookie is the cash-out option, which will allow you to take home part or all of your bet. With the cash-out feature, you will not have to wait for the matches to end.
- It has a mobile app.
- It features high-quality live streams of different games.
- It has a bet builder feature.
- You must have a positive balance in order to access the live streams.
Important Things to Know About Betting Sites in Iceland
Before you start gambling on betting sites in Iceland, you will need to understand a few things about betting sites in the country. In this section, we will elaborate on various aspects of Iceland betting sites.
- Betting Environment
Casinos and professional gambling are illegal in Iceland, but the law makes an exception for Islandsspil and the University of Iceland. These are the only places where residents of the country can play slot machines and purchase lottery tickets. Although the law does not allow other institutions to offer gambling services, players can still access various Iceland gambling sites. The government does not penalize players who use these platforms.
As noted above, Icelanders can only access physical gambling services at the University of Iceland and Islandsspil. These services have become quite popular among gamblers in Iceland, but with the increased access to online casinos, more people have shifted to these sites. At the moment, the biggest bookmakers in Iceland are Fortune Jack, Unibet, and Bet365.
In Iceland, gambling services operate both online and in physical places. However, all online operators are foreign and are allowed to accept gamblers from Iceland.
- Active Players
Recent studies indicate that at least 76% of the people in Iceland participate in at least one form of gambling. The most popular option for gamblers in Iceland is slot machines.
- Key info for Iceland Players
Since online gambling isn’t authorized by the Icelandic government, players living in the country have to use foreign sites. To stay safe on such websites, it is essential to ensure that the betting sites are secure and licensed. This way, you will not lose your personal data and will not lose returns to fraudulent sites.
- Gambling Taxes and Players Safety
The Icelandic government doesn’t tax gambling, even if these profits are generated in brick-and-mortar gambling houses. As a player from Iceland, you should sign up on bookies that are licensed by reputable bodies such as the MGA and Curacao government.
Sports Betting in Iceland: An Overview – How We Choose the Best Betting Sites
As a punter from Iceland, you will have access to a wide range of online betting sites. So, how exactly do we choose the top bookmakers in Iceland? Here are our main considerations:
- The quality of the license
- The quality of the odds
- The available bonuses
- The available betting features
- The deposit and withdrawal options
What Kind of Odds Format is Used in Iceland?
Most bookies in Iceland use decimal odds, and these are quite easy to interpret. You will usually be able to convert the odds to fractional, American, and Hong Kong formats, among other options.
Available Betting Markets in Most Iceland Bookmakers
In most Icelandic bookmakers, you will be able to predict the winners of the matches. This betting market will also allow you to predict that the game will end in a draw. The sites also offer the double chance wager, which gives you a chance to pick two options from the 1X2 market. For example, you can pick a home win and a draw, and the site will pay out when either of these results occurs. Another common betting market in Icelandic bookies is the total goals or total points, and this one allows punters to predict the number of goals that will be scored in the game. The top betting sites in Iceland also offer correct score wagers, where punters can choose the number of goals each team will score.
The best sites for betting in Iceland also have great user experiences. They are developed to have great load speeds, so you will not have to wait for a few seconds for pages to open. The websites and apps are also designed with essential links on the homepage, and this makes it easier for punters to access different parts of the bookie. The best online bookmakers also have excellent customer support options, so you can solve your issues on the websites quite fast.
Bonuses and Promotions for Iceland Bettors
Punters in Iceland are drawn to online betting platforms by the welcome bonuses and other promotions. Promotions in online betting sites are granted in the form of match bonuses, free bets, and loyalty offers.
Live Betting, Live Streaming & Cash Out Features
Live betting is a fairly recent innovation, but it has become extremely common in online bookies. With it, punters can place wagers on games that have already started. The advantage of live betting is that you will be able to collect more information on the matches before placing a wager. Live streaming is also essential to online punters. With this option, you will be able to watch the games as they happen in real-time. Another feature included in online bookies in Iceland is the cash-out option, which will allow you to take your returns before the games are settled.
Online Casinos in Iceland
Online casinos are available in Iceland, but they are not regulated by the government. Instead, they are based in foreign countries and are licensed by governments like Malta and Curacao. On these platforms, you can play online slots, blackjack, baccarat, and roulette, among other online casino games.
Available Methods for Withdrawals and Deposits To Punters In Iceland
The payment methods vary from one bookmaker to another. However, you will usually be able to transact using options like credit cards, e-wallets, and bank transfer. Some sites will even allow you to transact using cryptocurrencies.
Mobile Betting and Betting Apps
In Iceland, punters can use mobile apps and mobile sites to place wagers on sports. Most bookies have developed excellent mobile sites, but mobile apps are still fairly rare.
Safety and Security
A major factor to consider when choosing a betting site in Iceland is the safety and security level. The sites have to be licensed and regulated, and they must also be developed with encryption technology.
Is the Customer Support Good Enough for Iceland Players?
The best bookies in Iceland offer excellent customer support. The agents are able to communicate in Icelandic, as well as other common languages in the country like English, Danish, German, and French. In most cases, the customer service teams can be accessed via live chat, email, and telephone.
Is sports betting legal in Iceland?
Sports betting is not legal in Iceland, but residents in the country are allowed to sign up on various online betting services. The government does not penalize online punters in any way, and it also doesn’t prevent international bookies from serving Icelanders.
Can you bet online in Iceland?
Yes, you can place bets online in Iceland. The only difference is that the government of Iceland hasn’t set up a body to regulate online gambling in the country. This means punters in the country have to find bookies that are licensed by foreign governments.
What are the best online bookmakers?
The best online bookmakers in Iceland are Fortune Jack, Unibet, and Bet365. All these bookies are licensed, and they come with interesting benefits such as mobile apps and cash-out options. With sites like Unibet, you will even be able to stream different games live.
What is the best sports betting site in Iceland?
The best sports betting site in Iceland is Unibet. This operator offers some of the highest odds, and it also allows punters to stream various matches live. Also, its supported payment methods are great for punters living in Iceland.
Can I gamble with the Icelandic Krona?
Yes, the best betting sites in Iceland accept the Icelandic Krona. However, a more common currency in online bookies is the Euro.
How are gambling taxes calculated in Iceland?
The government of Iceland does not tax gambling profits, so you can spend your returns as you wish.
Can I be punished by Icelandic authorities for gambling online?
No, you can gamble in Iceland without using VPNs as the government doesn’t arrest online punters.
Will I still have to submit verification documents when gambling online in Iceland?
Yes, online betting sites are still required by licensing authorities to ensure that all their members at above the age of 18. Therefore, you must submit photo IDs and some documents to show your current address.
Interesting Facts about Gambling in Iceland
- Since 1933, only six gambling licenses have been issued by the government of Iceland.
- Buying foreign lotteries was restricted when the government got worried about the external flow of capital in the early 1900s.
- Casino games, skill-based and luck-based, are all illegal in Iceland, and they are unlikely to ever be legalized in the country.
- While gambling is illegal, a number of non-profit organizations have been permitted to offer gambling services to raise capital.
- Since Iceland is a member of the EEA, its residents can gamble in international betting sites without risking jail time.
- For a long time, gambling activities had to be paused during Christian holidays. However, this law has since been changed.
Are There Any Restrictions for Iceland Players?
No, Icelandic players are not restricted from signing up in online gambling sites. This is because of a ruling by the EU courts, which indicated that Iceland had to provide online gambling licenses or allow foreign operators to serve Icelandic customers. Since it doesn’t offer online gambling licenses, the government cannot prosecute players for signing up on bookies that have licenses from other EU countries. It is worth noting that Iceland is not a member of the European Union, but it is part of the EEA. This means it has to follow certain rules set by the union. In online bookies, Icelandic players can use the Krona or Euro, depending on the options provided by the operator. In Iceland, Bitcoin is considered a unit of value, so residents can also use it to gamble in online bookies.
Iceland is not a gambling destination, and it has very few physical gambling options. However, residents of the country can still place wagers in online bookies that have licenses from other members of the European Union. At the moment, the best sites for betting in Iceland are Fortune Jack, Bet365, and Unibet. When choosing an online gambling platform in this country, you should ensure that it has a license and that it features high odds. It is also essential to check the supported payment methods and currencies as these will determine how convenient it is to gamble on the platform.